Chris Ellis

Founder & CEO @ Thatch

[Chris Ellis @chrisellisdc]

Today, we're announcing @thatch_ai raised a $108M Series C at a $1B valuation from @thegp, @IndexVentures, @generalcatalyst, @a16z.

The idea we're betting on: healthcare serves whoever controls the dollar. For 80 years that's been the employer. We think it should be you.

Employers typically choose one health plan for everyone. We think there's a better model: give people a health budget and let them choose the insurance and care that fits their life. That is the idea behind Thatch.

ARR has grown nearly 7x in the last twelve months, and more than 5,000 employers now use Thatch. None of this happens without our team, or without the employers who believe that their people know what their families need better than they ever could.

We're building a healthcare system people love by changing how we fund it.

[Chris Ellis @chrisellisdc]

@Glennmon Have you read Peter Drucker? Effective executives think and speak in 'we' not 'i'

[Chris Ellis @chrisellisdc]

@ednevsky It is possible, not thanks to VC dollars, but thanks to the hard work of passionate people who believe they can make a difference.

[Chris Ellis @chrisellisdc]

@Jason_A_Scharf @thatch_ai Thanks for joining 🙏

[Chris Ellis @chrisellisdc]

@chrissyfarr we're on it 🤫

[Chris Ellis @chrisellisdc]

@RepValHoyle @RepAOC @RepSuhas It's time to reorganize our healthcare system around the consumer!

[Chris Ellis @chrisellisdc]

@Flowcreates_ @katiekirsch @thatch_ai Thanks for applying 💪

[MTS @MTSlive]

Thatch CEO @chrisellisdc says healthcare has the wrong incentives because your insurer doesn’t have to win your business, your employer already chose it for you:

"The problem is there's no penalty for denying a claim. If you're working at a company that offers a health plan and your claim gets denied, who are you petitioning to? You don't get to change the insurance. It's decided for you by your employer."

"In a world where consumers choose and you have an experience, whether it's customer service, a claim denial, or another issue, if you have an experience that's really bad, you could just switch. You're no longer locked into a single carrier."

"It's that ability to switch and an ability for the consumer to express their preference in an open market that is what ultimately changes the shape of supply in that market."

"Our long-term vision is to reorder the incentives around making consumers happy. When people make consumers happy, carriers, pharma firms, everybody will make more money, and it will be a win-win for everyone."
@thatch_ai

[Chris Ellis @chrisellisdc]

@danprimack VIBEITDA!

[Chris Ellis @chrisellisdc]

"We've determined your cancer treatment is not medically necessary."

Health insurance:

[Chris Ellis @chrisellisdc]

@mcuban Preach!

[Chris Ellis @chrisellisdc]

@chrissyfarr Meditation helps!

[Chris Ellis @chrisellisdc]

@BLASPHEMOUSBABE Insurance doesn’t even end up paying that much after the “discounts” from “list price.” its all designed to make you feel like it’s doing something..

[Chris Ellis @chrisellisdc]

True

[Packy McCormick @packyM]

Americans are such firm believers in our ideals that when the leading American lab says “we know what’s best for you trust us” and the leading Chinese lab says “enjoy your freedom model go nuts” we root for the Chinese lab. 🇺🇸

[Chris Ellis @chrisellisdc]

Disagree. Nothing great was achieved without optimism and enthusiasm

[Han Wang @handotdev]

https://t.co/uFkkNhc2Dx

[Chris Ellis @chrisellisdc]

Being a first-time founder is a lot like learning chess: getting from beginner to intermediate is not about mastering strategy, it's about avoiding total blunders

[Chris Ellis @chrisellisdc]

@paulg And selling! Half the battle is convincing great people to come work with you on building cool things.

[Chris Ellis @chrisellisdc]

@marcrandolph A good CEO’s job is to be an 7 or 8 in every function so they can put a 10 in to lead it. If you’re a 2 at sales, you won’t be able to tell the difference between a 6 vs 10 CRO.

[Chris Ellis @chrisellisdc]

@lulumeservey Humans are hardwired to be repulsed by inauthenticity.

[Chris Ellis @chrisellisdc]

Founder mode!

[travis kalanick @travisk]

First day at our new Austin office. Video of my 5 minute jet ski commute to work.. 😏😅😂